Akamai Tech beats by $0.03, beats on revs
- Reports Q3 (Sep) earnings of $0.62 per share, $0.03 better than the Capital IQ Consensus of $0.59; revenues rose 6.3% year/year to $621 mln vs the $610.66 mln Capital IQ Consensus.
- Cambridge, Mass.-based Akamai is the biggest provider of content delivery network, or CDN, services, which increase the speed of e-commerce transactions, business software downloads and video streaming to mobile devices. Akamai has moved into higher margin cloud security services as prices for content delivery network services continue to tumble.
- Akamai said web division revenue rose 14% to $328 million. Akamai said media revenue fell 1% to $273 million.
- Shares in the provider of internet infrastructure for content delivery climbed 3.5% to 53.70 during after-hours trading in the stock market today. Akamai stock had plunged 22% in 2017 before the release of earnings.
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